News
Garfield Tower in CBD Goes Up for Sale
A Cincinnati apartment tower located in the heart of the city’s Central Business District is now for sale. CBRE has listed the property but did not disclose a sale price.
Paolino Properties Buys Downtown Providence Trio for $64M
In a $64 million deal, Paolino Properties has acquired three downtown Providence properties, namely the 20-story office tower at 100 Westminster Street, the attached historic building at 30 Kennedy Plaza and the surface parking lot and facade at 110 Westminster Street.
Architects Convert Church, Apartment Developers Eye New Project in Downtown
The Memphis apartment market has been doing quite well recently, coming off its fourth consecutive year of positive demand, with 1,690 apartments absorbed in 2013 as well as overall rent growth of 1.5 percent
KBP Realty Pays $8M for Deer Valley Flex Complex; Mark-Taylor Plans Upscale M-F Project in Scottsdale
In an $8.04 million deal, KBP Realty Advisors acquired Turner Spectrum Ridge, a 68,195-square-foot industrial flex property in Phoenix from Newport Beach, California-based Turner Real Estate Investments. The price translates to about $117.98 per square foot.
$120M in Financing Secured for Redevelopment of 662 KSF M-U Complex in Baltimore
The Rotunda, a 217,000-square-foot office and retail complex in Baltimore, is well on the way to being transformed into a premier 662,000-square-foot mixed-use destination, courtesy of a $120 million construction financing deal.
SEB Sells Singapore Office Asset for $228M; Pays $54M for Tokyo Office Building
SEB Asset Management, the real estate arm of SEB Group, has kicked off 2014 strongly with several notable transactions, especially in the Asia-Pacific commercial real estate market.
Crocker Partners Buys 174 KSF Office Building in Maitland, Fla.
Crocker Partners has acquired 851 Trafalgar Court, a 174,048-square-foot office building in Maitland, Fla., and plans to reposition the four-story lakefront building to attract quality tenants.
RLJ Lodging Trust Picks Up 10-Hotel Portfolio from Hyatt Affiliates for $313M
RLJ Lodging Trust and affiliates of Hyatt Hotels Corp. have entered into a definitive agreement for RLJ to acquire a portfolio of 10 Hyatt, Hyatt Place and Hyatt House hotels totaling 1,560 keys for $313 million.
Economy Watch: January Jobs Numbers Mixed, Mediocre; CBO Reports Shrinking
The tepid increase in U.S. jobs in January had economists, who had predicted renewed strength after December’s subpar report, puzzled about the situation. The Congressional Budget Office reported that the federal government ran a budget deficit of $184 billion for the first four months of fiscal year 2014, or $107 billion less than the shortfall during the same period last year.
New Hilton Grand Vacations Resort Opens in Honolulu’s Waikiki Beach Walk
On January 28, Hilton Grand Vacations (HGV) celebrated the grand opening of its newest resort, Hokulani Waikiki by Hilton Grand Vacations Club in Honolulu. Mayor Kirk Caldwell and other officials attended the reception hosted by Mark Wang, president of Global Sales and HGV.